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Cantex announces outstanding Yukon prospecting results

KELOWNA, BC, Oct. 14, 2015 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to announce outstanding gold and base metal analytical results received from rock samples collected during the 2015 summer prospecting program. This program focused on the 100% owned North Rackla and Mount Good claim blocks in the central Yukon.

Prospecting ProgramDuring the summer of 2015, 284 rock samples were collected as a result of follow-up prospecting of areas of anomalous soil-talus results on the North Rackla and Mount Good claim blocks. The fire assay and geochemical analyses of the rock samples collected from this program returned high metal contents. Gold ranges up to 11.40 grams per tonne; silver is as high as 49.00 ounces per ton; copper values are up to 25.30%; zinc is as high as 41.43%; and lead values as high as 32.19% were received. Selected rock sample results are presented in the following tables:

Anomalous Rock Sample Results in Gold and Base Metals

Sample

Gold

Silver

Copper

Zinc

Lead

g/t

oz/t

%

%

%

KAR00408

11.40

0.98

0.03

0.10

0.25

KAST24077RX

5.29

3.06

0.04

0.66

1.16

KAST24087RX

1.04

4.93

0.06

22.00

1.24

KAST23519RX

0.28

0.26

0.01

0.02

0.05

KAR00416

0.38

2.95

0.01

0.15

0.08

KAR00413

5.86

2.77

0.02

0.29

3.24

KAR00415

1.19

3.53

0.02

0.17

0.18

KAST23518RX

0.87

0.46

0.01

0.02

0.08

KAST23514RX

4.15

44.77

1.41

0.20

0.43

KAST22699R

0.11

0.47

3.21

0.03

0.00

KAST22763R

0.01

0.34

5.70

0.00

0.00

KAST23289RX

0.15

1.36

17.90

0.01

0.00

KAST23285RX

0.04

1.58

15.90

0.47

0.27

KAST23284RX

0.01

1.06

2.01

0.43

0.13

KAST23282RX

0.02

0.07

1.23

0.01

0.00

KAST23236RX

0.01

0.89

1.78

0.09

0.13

KAST24507RX

0.05

0.81

10.15

0.13

0.01

KAST24088RX

0.06

6.80

0.49

32.47

2.69

KAST24086RX

0.17

5.66

0.02

16.55

4.81

KAST24085RX

0.02

2.29

0.09

6.45

0.97

KAST24081RX

0.02

3.91

0.12

14.55

5.45

KAST24079RX

0.01

2.36

0.06

16.60

2.28

KAST24076RX

0.01

3.88

0.04

8.38

3.95

KAR00467

0.02

2.82

0.01

5.92

3.73

KAST23202RX

0.07

1.15

0.04

0.40

2.58

KAST23210RX

0.12

3.38

0.21

0.46

0.02

Anomalous Rock Sample Results in Gold

Sample Name

Gold

g/t

KAR00418

0.22

KAR00469

0.22

Anomalous Rock Sample Results Anomalous in Base Metals Without Gold

Sample

Copper

Zinc

Lead

Silver

%

%

%

oz/t

KAR00497

25.30

0.20

0.00

4.96

KAR00498

12.40

0.45

0.00

1.24

KAST24090RX

12.05

0.91

0.00

2.00

KAST23247RX

11.95

0.80

0.39

7.67

KAST24091RX

11.65

0.24

0.00

2.16

KAST24092RX

10.00

0.04

0.00

1.14

KAST23287RX

23.80

0.09

0.01

0.95

KAST23218RX

4.04

0.00

0.00

0.10

KAST23223RX

3.14

0.12

1.52

49.00

KAST23281RX

3.25

0.02

0.07

0.50

KAST23571RX

2.98

0.51

0.04

14.09

KAST24095RX

1.85

0.10

0.01

9.74

KAST24099RX

0.86

0.06

0.01

0.32

KAR00483

2.78

0.00

0.00

0.10

KAR00485

5.30

0.01

0.00

0.14

KAST23502RX

2.25

0.00

0.00

0.09

KAST23290RX

1.03

0.00

0.00

0.25

KAR00496

1.65

0.21

0.03

7.96

KAST23293RX

0.10

41.43

0.20

9.54

KAR00410

0.06

15.35

1.10

2.53

KAR00407

0.01

2.53

2.25

3.06

KAR00422

0.09

9.36

0.03

2.26

KAR00461

0.07

14.35

16.95

2.57

KAR00472

0.01

11.60

3.20

5.22

KAR00411

0.12

21.70

3.04

4.61

KAR00473

0.03

15.25

0.27

2.29

KAST23246RX

0.06

13.80

0.67

0.52

KAST23557RX

0.05

38.88

0.33

7.73

KAST24082RX

0.08

19.45

2.65

6.36

KAST24083RX

0.18

10.85

0.26

1.20

KAST24084RX

0.04

10.05

0.11

0.81

KAR00439

0.86

0.11

0.07

2.19

KAR00489

0.62

0.10

0.00

2.98

KAST23524RX

0.19

0.62

32.19

5.98

In addition, 1,187 soil/talus samples were collected during the summer program with the objective of closing off and filling in areas of anomalous gold-silver and base metal results in previously soil/talus sampling. These samples are being crushed, split and pulverized at C.F. Mineral Research Ltd. and all of the samples are expected to have been submitted for gold and base metal analysis at ALS Chemex Laboratories in Vancouver by the end of the week.

The planned late autumn program of geologic mapping in preparation for drilling had to be postponed until 2016 due to early snowfall at high elevations on the Mt. Good and North Rackla claims.

Cantex geologists are most encouraged by the foregoing gold and base-metal results of rock samples collected on the Company's North Rackla and Mount Good claims. Cantex looks forward to reporting the result of the 1,187 soil/talus samples also collected in 2015 and submitted to ALS Chemex for analysis. The 2015 rock sample results and the forthcoming soil/talus results will define areas to be geologic mapped and drilled in 2016.

The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.

Signed,

Charles Fipke

Charles FipkeChairman

About the Company

Beyond the Yukon project Cantex has projects in Yemen and Nevada. In Yemen operations at the advanced Al Hariqah gold project are currently suspended while in Nevada the Company has five drill ready properties along known trends of gold mines and is currently seeking joint venture partners to advance the projects.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.